The World Bank has revised Ghana’s 2025 economic growth forecast upward to 4.3 percent, from an earlier projection of 3.9 percent, reflecting renewed confidence in the country’s recovery path.
The revision was announced in the October 2025 edition of Africa’s Pulse Report, released in Washington, D.C. The new forecast, however, remains just below the Government of Ghana’s 2025 Budget target of 4.4 percent.
Ghana’s economy recorded strong momentum in the second quarter of 2025, expanding by 6.3 percent. Growth was driven largely by the services sector, which surged by 9.9 percent and contributed the most to overall GDP.
Looking ahead, the World Bank projects Ghana’s growth to strengthen further, reaching 4.6 percent in 2026 and 4.8 percent in 2027, underscoring a positive medium-term outlook.
Across Sub-Saharan Africa, the Bank expects economic growth to rise to 3.8 percent in 2025, up from 3.5 percent in 2024. The rebound is attributed to easing inflationary pressures and a modest recovery in investment, despite persistent global headwinds.
The report highlighted significant progress in price stabilization, noting that the number of African countries experiencing double-digit inflation has fallen sharply—from 23 in October 2022 to 10 in July 2025.
Still, the Bank cautioned that risks remain, including trade policy uncertainty, weak investor sentiment, and limited access to external finance and aid.
On inflation, the World Bank projects Ghana to close 2025 at 15.4 percent, a figure that contrasts with the official September 2025 rate of 9.4 percent, down from 21.5 percent a year earlier. The Bank’s estimate is seen as conservative, given the country’s recent disinflation trend.
Nonetheless, the report expressed optimism that inflation will continue to ease, falling to 9.4 percent in 2026. The Bank of Ghana, in its latest Monetary Policy Report, reaffirmed expectations that inflation will return to single digits by the end of the year.
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